Stock analysts at Keefe, Bruyette & Woods assumed coverage on shares of CNB Financial (NASDAQ:CCNE) in a note issued to investors on Tuesday, April 10th, MarketBeat Ratings reports. The brokerage set a “market perform” rating and a $35.00 price target on the bank’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 21.36% from the stock’s previous close.
Several other research analysts have also recently commented on CCNE. BidaskClub cut shares of CNB Financial from a “sell” rating to a “strong sell” rating in a report on Saturday, February 3rd. ValuEngine upgraded shares of CNB Financial from a “buy” rating to a “strong-buy” rating in a report on Monday, April 2nd. Zacks Investment Research upgraded shares of CNB Financial from a “hold” rating to a “strong-buy” rating and set a $32.00 target price for the company in a report on Thursday, December 21st. Finally, Boenning Scattergood restated a “buy” rating and set a $29.50 target price on shares of CNB Financial in a report on Monday, February 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $31.50.
Shares of CNB Financial stock traded down $0.31 on Tuesday, hitting $28.84. The company had a trading volume of 24,967 shares, compared to its average volume of 24,727. The stock has a market capitalization of $441.11, a PE ratio of 16.28 and a beta of 0.73. CNB Financial has a twelve month low of $20.91 and a twelve month high of $31.46. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.20.
In other CNB Financial news, Director Joel E. Peterson sold 2,000 shares of the stock in a transaction on Tuesday, March 20th. The shares were sold at an average price of $30.21, for a total value of $60,420.00. Following the completion of the sale, the director now owns 7,751 shares in the company, valued at $234,157.71. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Francis X. Straub III purchased 1,000 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was purchased at an average price of $26.91 per share, with a total value of $26,910.00. The disclosure for this purchase can be found here. Insiders have sold 2,414 shares of company stock valued at $72,624 in the last 90 days. 4.20% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in CCNE. SG Americas Securities LLC acquired a new stake in CNB Financial in the third quarter valued at $208,000. Wells Fargo & Company MN lifted its stake in CNB Financial by 53.0% in the third quarter. Wells Fargo & Company MN now owns 17,103 shares of the bank’s stock valued at $468,000 after acquiring an additional 5,928 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in CNB Financial by 5.2% in the third quarter. Dimensional Fund Advisors LP now owns 400,203 shares of the bank’s stock valued at $10,934,000 after acquiring an additional 19,807 shares during the last quarter. California Public Employees Retirement System lifted its stake in CNB Financial by 11.2% in the third quarter. California Public Employees Retirement System now owns 46,362 shares of the bank’s stock valued at $1,267,000 after acquiring an additional 4,662 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of CNB Financial by 36.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 28,261 shares of the bank’s stock valued at $742,000 after purchasing an additional 7,561 shares during the period. Hedge funds and other institutional investors own 42.84% of the company’s stock.
CNB Financial Company Profile
CNB Financial Corporation operates as the bank holding company for CNB Bank that provides a range of banking products and services for individual, business, governmental, and institutional customers. It accepts checking, savings, and time deposit accounts; and offers real estate, commercial, industrial, residential, and consumer loans, as well as various other specialized financial services.
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